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Nov 29, 2012
11/12
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we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending. republicans going into the deficit reduction talks talking about another dividend tax cut is something like that. a very poisonous way to start since the negotiations between two sites. the second thing that is important here is how we are viewing these jobless benefits. the administration is firming in in terms of job creation. that is not what they are. gerri: this is a study they did it, extending jobless benefits would create 300,000 jobs. i had to read it twice to figure out what they were talking about . and it still made no sense to me. explain the contorted logic to work here. >> thee're saying by putting money into the pockets of unemployed people that will deal to spend it on rant and consumer goods which will create jobs in the real-estate industry in the retail industry. the problem is a does not take into account that the people have to look for jobs that would also be doing that. double counting the money. the difficult thing is what we are talking about
we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending. republicans going into the deficit reduction talks talking about another dividend tax cut is something like that. a very poisonous way to start since the negotiations between two sites. the second thing that is important here is how we are viewing these jobless benefits. the administration is firming in in terms of job creation. that is not what they are. gerri: this is a study...
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right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about what bill clinton said? he said once things start to get better, and that's a crucial point he was making. he wasn't saying doing it right away. once it gets better, taxes go up on the middle class. do you agree with that? >> i don't, actually. the reason being is that right now if you look at the real math on it, in 2007 and 2012 we have the same amount of revenue. obviously 2008 and '09 we had a dramatic drop in federal revenues coming in. we've slowly climbed back up. revenue has gone up every single year in the obama administration, and now we're at historic highs. the difference is our spending in
right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about...
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Dec 7, 2012
12/12
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>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a lot of bipartisan defense spending. for example, the defense authorization bill that just passed yesterday in the senate gave the pentagon $17 billion more than they asked for. so to think that any industry or any taxpayer or any group of people who depend on government spending can be exempted from the serious problem that we have that's caused by this deficit is a mistake. everybody is going to have to pay for this. >> dawn, right or wrong, the defense industry has this reputation of being bloated, overcharging. are we at a point where we could afford to make c
>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a...
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Dec 6, 2012
12/12
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we cannot raise taxes enough to take care of $1 trillion worth of deficit spending every single year. so let's get off of this and get on to the other side and start talking about what we have to do to cut our spending, to reform those entitlement programs that are the debt drivers and then do pro-growth tax reform that will stimulate the economy, get the money coming in. it's the best way to get money coming in and that gives everybody a job and helps to take care of the fiscal problem and balanced is what we need. >> congresswoman diane black, thank you for joining me this morning. i appreciate your time. >> thank you. >> i want to bring in our political power panel. political reporter, karen tumult, karen finney and robert trainam. karen, since i know you the best, i'm going to call you k-fin as not to confuse everyone. it seems the taxes are going to go up on the wealthy. the question is whether or not it's through the tax increases or closing the loopholes and the deductions. so do you think that we are closer to a deal today than yesterday if. >> i do. in that now they're puttin
we cannot raise taxes enough to take care of $1 trillion worth of deficit spending every single year. so let's get off of this and get on to the other side and start talking about what we have to do to cut our spending, to reform those entitlement programs that are the debt drivers and then do pro-growth tax reform that will stimulate the economy, get the money coming in. it's the best way to get money coming in and that gives everybody a job and helps to take care of the fiscal problem and...
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right now with the fourth year in a row, that deficit and debt continues to climb. so it doesn't really wipe it out and the challenge of it is what does that do to the overall economy. we're not just dealing with one tax increase as well. a lot of people lose track of that. the affordable care about actually begin on january 1st as well for people making $200,000 or more. or people having large medical bills. this is talking about an additional tax increase on top of that. >> what about what bill clinton said? he said once things start to get better and that's a crucial point he was making. once the economy starts to get better, taxes have to go up on the middle class. do you agree? is. >> i don't, actually. and the reason being is that right now, if you look at the real math, in 2007 and 012, we have the same amount of revenue. now, 2008 and 2009, we had a dramatic drop in federal revenues, but we've slowly climbed back up. revenue has gone up every year of the obama administration and now, we're at historic highs. the same as we were five years ago. the difference
right now with the fourth year in a row, that deficit and debt continues to climb. so it doesn't really wipe it out and the challenge of it is what does that do to the overall economy. we're not just dealing with one tax increase as well. a lot of people lose track of that. the affordable care about actually begin on january 1st as well for people making $200,000 or more. or people having large medical bills. this is talking about an additional tax increase on top of that. >> what about...
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Nov 29, 2012
11/12
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CNBC
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job creation is essential to reducing the deficit. we firmly believe if you want to reduce the deficit, create jobs. you can grow the economy and reduce the deficit. it's all together. and that is attested to by every bipartisan task force, commission, you name it, that has come together. you can't get there from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you, madame leader. i think that this meeting was very, very fruitful. it simply reminds us -- >> we are listening to commentary after nancy pelosi's meeting with timothy geithner. as you heard, ms. pelosi continuing to stick to her guns in terms of raising revenue as well as spending cuts. we don't have the clarity this market is looking for. that is, where will the cuts be? where will the revenue be? we're still waiting on compromise. as soon as we get some indication of that compromise, we'll bring it to you. maybe there's hope, meanwhile, for the twinkie. hos
job creation is essential to reducing the deficit. we firmly believe if you want to reduce the deficit, create jobs. you can grow the economy and reduce the deficit. it's all together. and that is attested to by every bipartisan task force, commission, you name it, that has come together. you can't get there from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you, madame...
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Nov 29, 2012
11/12
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we need to be creating jobs, not trying to cut the deficit. there is a time for that. we need jobs. >> tavis, good to see you, and you have a very famous voice. you were just on -- >> well, it is not that english thing you have, though. >> obviously, mine is much more. >> and coming up, something with a memorable voice, a lottery queen herself. we'll talk powerball. she has the name millions know and love, please reveal your name to us. >> i am yolanda vega. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hyb
we need to be creating jobs, not trying to cut the deficit. there is a time for that. we need jobs. >> tavis, good to see you, and you have a very famous voice. you were just on -- >> well, it is not that english thing you have, though. >> obviously, mine is much more. >> and coming up, something with a memorable voice, a lottery queen herself. we'll talk powerball. she has the name millions know and love, please reveal your name to us. >> i am yolanda vega. but,...
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Dec 1, 2012
12/12
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FOXNEWSW
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not going to do anything on medicare or medicaid when that's one of the biggest drivers of our budget deficit." there's the president, on record saying it is untenable. >> sean: this is in your book. >> this is in the book. >> sean: your conclusion about the president in your book was he had an opportunity to lead and he did not lead. john boehner was willing to go further than i as a conservative would have liked. we discussed that. how does the president, planning a vacation in hawaii for 20 days. the president sends geithner to meet with the republicans yesterday. >> i don't think that's fair. >> sean: he's a tax cheat. >> he made a mistake and he paid and everyone -- [ talking over each other ] >> sean: i never cheated on my taxes i promise. obama would have caught me by now. look at his proposal, 1.6 trillion tax cut. increase rates on the wealthy only. new stimulus program 150 billion. and he wants a blank cheque that. is not a serious proposal bob. >> it is not. you talk to people in the real world, not in washington, but in the real world, they say the numbers and how this is done, i
not going to do anything on medicare or medicaid when that's one of the biggest drivers of our budget deficit." there's the president, on record saying it is untenable. >> sean: this is in your book. >> this is in the book. >> sean: your conclusion about the president in your book was he had an opportunity to lead and he did not lead. john boehner was willing to go further than i as a conservative would have liked. we discussed that. how does the president, planning a...
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Dec 4, 2012
12/12
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, the amount of the deficit itself. as governors we try to find common ground issues that we can bring to the president to speaker boehner, to leader reid to talk about and say, we want to grow our economy. we want to create jobs. we understand these are tough decisions that have to be made. we understand there whim be cuts on the federal side. the states will have a shared responsibility with those cuts. we have some specific things that we have suggested to the president. we'll suggest later on today to congress to give them some ideas of ways we think governors can help and also we think it's important that the governors have a seat at the table because ultimately it's the states that will also feel the effect of what happens in washington, d.c. >> you made that point, governor. i'm curious about the line in the sand for the president, and i'm sure he expressed his thoughts on the tax rate for those who make over $250,000. that revenue is needed. without, i guess, endorsing one plan over the other, where do you stand
, the amount of the deficit itself. as governors we try to find common ground issues that we can bring to the president to speaker boehner, to leader reid to talk about and say, we want to grow our economy. we want to create jobs. we understand these are tough decisions that have to be made. we understand there whim be cuts on the federal side. the states will have a shared responsibility with those cuts. we have some specific things that we have suggested to the president. we'll suggest later...
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Nov 30, 2012
11/12
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the fiscal deficits are unsustainable. there's very little work done for reforming the economy structurally. so we don't feel good about them. we have been underweight everything in europe for a long time. >> you want to continue to be underweight in europe given the debt crisis? is that the reason? >> we have about $600 billion of assets. we invest them in the long term. the long-term characteristics of economies are very important. we believe eurozone economies are in structural decline and deficit. >> let me ask you about where you have been investing. i know you've been investing a lot in asia. the emerging markets have been an area of promise for you. but they've slowed a lot. do you still want to put your money there given the fact china slowed, indonesia. some of these hot spots are nowhere they were a couple years ago. >> we grew more than 30% in indonesia. what's happening with us is that we cater to the middle classes, and the fact there are more and more asians in the middle class is, if you wish, not correlated
the fiscal deficits are unsustainable. there's very little work done for reforming the economy structurally. so we don't feel good about them. we have been underweight everything in europe for a long time. >> you want to continue to be underweight in europe given the debt crisis? is that the reason? >> we have about $600 billion of assets. we invest them in the long term. the long-term characteristics of economies are very important. we believe eurozone economies are in structural...
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Nov 30, 2012
11/12
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our long-term goal is to get our long-term deficit under control in a way that is balanced and is fair and that would be good for businesses, for our economy, for future generations. and i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're going to have to raise a little more revenue, we've got to cut out spending we don't need, building on the trillion dollars of spending cuts we've already made, and if we combine those two things, we can create a path where america's paying its bills while still being able to make investments in the things we need to grow like education and infrastructure. we know how to do that. but, you know, in washington, nothing is easy so there's going to be some prolonged negotiations. and all of us will have to get out of our comfort zones to make that happen. i'm willing to do that. i'm hoping enough members of congress in both parties are willing to do that as well. we can solve these problems. but where the clock is really ticking right now, is on middle-class taxes. at the end of the yea
our long-term goal is to get our long-term deficit under control in a way that is balanced and is fair and that would be good for businesses, for our economy, for future generations. and i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're going to have to raise a little more revenue, we've got to cut out spending we don't need, building on the trillion dollars of spending cuts we've already made, and if we combine those two...
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Dec 5, 2012
12/12
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why are we going to have the big deficits? mostly because of medicare and medicaid. that's not medicare's fault. it's a very efficient program and run by the government. so it doesn't have a lot of overhead. it has enormous economies of scale and bargain for better rates of doctors and hospitals dictate prices so for what it provides, medicare's very cheap. it's getting expensive over time because a lot more people are going on to the program and in general the health care system, public health insurance, private health insurance, it's all very expensive and only so much right now that medicare can do about it. the problem isn't medicare, per se. not that medicare is a wasteful program but the health care system is -- and health care costs and getting in to the guts of the health care system and rather than lopping off a sum of health care. >> if we lowered health care costs overall, the cost of medicare goes down andç medica more affordable without necessarily even needing to tinker with medicare and the point of something that you were writing about. we have all
why are we going to have the big deficits? mostly because of medicare and medicaid. that's not medicare's fault. it's a very efficient program and run by the government. so it doesn't have a lot of overhead. it has enormous economies of scale and bargain for better rates of doctors and hospitals dictate prices so for what it provides, medicare's very cheap. it's getting expensive over time because a lot more people are going on to the program and in general the health care system, public health...
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Dec 6, 2012
12/12
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raised on those upper income americans, even though only 19% think it will have much of an impact on deficits. it's not about the fiscal crisis. it's about fairness in the minds of most americans. president obama understands that and republicans don't. >> is that because in your polling day, i always thought that people favored spending reduction and favored smaller government. this may be a mistake that the gop has not emphasized spending cuts. >> they certainly do. most people -- two out of three people want to see a deal that includes both tax hikes and spending cuts. they want to see more spending cuts, but they don't expect spending cuts to come out of this no matter what happens. in fact, the one thing that most people in the middle class believe is that regardless of whether we go over the fiscal cliff or whether a deal is reached to avert that, middle class taxes are going up, and so is spending. so there's a lot of cynicism in this process. >> real quick -- >> that's why the president has the edge. >> bottom line, the republicans are poised to take a fall? is that what your numbers s
raised on those upper income americans, even though only 19% think it will have much of an impact on deficits. it's not about the fiscal crisis. it's about fairness in the minds of most americans. president obama understands that and republicans don't. >> is that because in your polling day, i always thought that people favored spending reduction and favored smaller government. this may be a mistake that the gop has not emphasized spending cuts. >> they certainly do. most people --...
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so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the income from small business. so they're hiring the majority of people. to me that is going to cost us jobs. >> well, you know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because it is not just about raising tacks. it is also about the debt ceiling. it is about unemployment insurance. we have number of key
so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the...
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Dec 1, 2012
12/12
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why not >> i want to look at what's actually on the table right now for fiscal cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the sequester for a year and then launch this new multi-year stimulus package that would be at least $50 billion last year, infrastructure spending. also get this, a permanent increase in the debt limit, and they would take the debt ceiling approval away from congress. robert reich, do you have any problems with all of these things? >> well, most of them are steps in the right direction. i think that actually taking the debt ceiling approval away from congress sounds radical but it really isn't. that's a technicality. you don't want the debt ceiling ever to be negated. you are don't want congress to ever say no becaus
why not >> i want to look at what's actually on the table right now for fiscal cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the...
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Dec 2, 2012
12/12
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talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time. 171,000 jobs were added, you may recall, in october, but experts think that maybe superstorm sandy might have slowed the growth this time around. we'll see if that really does have any affect on that jobs report coming out on friday morning. on saturday college football fans pay close attention here. the heisman trophy winner will be announced. we'll find out who the best player in college football really is. >>> who was the only sitting president married in the white house. if you know the answer, tweet me@randi kaye cnn. we'll have the answer after this quick break. [ abdul-rashid ] i've been working sin
talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time....
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Dec 4, 2012
12/12
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going to require what i talked about during the campaign, which is a balanced, responsible approach to deficit reduction and unfortunately the speaker's proposal right now is still out of balance. >> nbc's luke russert begins the coverage live on capitol hill. luke, first read this morning put a rather positive spin on duelling deals arguing there's a silver lining if you split the difference. unpack that for us. >> reporter: s.e., you saw that the republicans' offer was immediately dismissed by the white house. president obama, his team of communications advisers saying it's more of the same and won't work. the speaker was not offering to raise taxes on those making 250 or above. that's a big sticking point. if you look at both plans and split the difference and run the math, if you take the 800 billion in revenue that speaker boehner has offered, the 1.6 trillion the white house wants, you split the difference 1.2. if you split the difference on the cuts, you get to 450, 500 billion. numbers that folks on both sides think is feasible in the realm of a large deal. i spoke to a senior republic
going to require what i talked about during the campaign, which is a balanced, responsible approach to deficit reduction and unfortunately the speaker's proposal right now is still out of balance. >> nbc's luke russert begins the coverage live on capitol hill. luke, first read this morning put a rather positive spin on duelling deals arguing there's a silver lining if you split the difference. unpack that for us. >> reporter: s.e., you saw that the republicans' offer was immediately...
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Dec 5, 2012
12/12
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they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local wa
they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin...
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Nov 29, 2012
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that begins to reduce your deficit right there. so it's win/win. >> terry, i got to say, this is music to my ears. i read your column. i really liked it. you say it's the jobs crisis that needs to be addressed right away. you say lowering unemployment is probably the single most important thing we can do to reduce the federal budget deficit over the next few years. no complaints from me. no argument there. i'm just wondering, though, where were these criticisms of president obama last year? i went through your press releases from last year. and i have them in front of me. it's domestic violence, marriage equality, war on women, richard murdoch, love your body day, abortion ban, war on women, abortion, i mean, on and on and on. i don't see anything in here that talks about the unemployment crisis. why now? >> actually, we have been talking about the unemployment crisis. i'll send you all the materials that we've put out about that previously. one of the things that we actually spent an enormous amount of time and resources on last y
that begins to reduce your deficit right there. so it's win/win. >> terry, i got to say, this is music to my ears. i read your column. i really liked it. you say it's the jobs crisis that needs to be addressed right away. you say lowering unemployment is probably the single most important thing we can do to reduce the federal budget deficit over the next few years. no complaints from me. no argument there. i'm just wondering, though, where were these criticisms of president obama last...
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Dec 7, 2012
12/12
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. >> what the president has said is we need $1.6 trillion as part of an overall deficit reduction plan, because if you don't get those additional revenues, but you also try and reduce the deficit, you end up whacking everybody else much harder. and so, it's really important to have that revenue number as high as possible. >> sure. >> look, the president's already been clear, ed. on cuts, he will continue to implement over the next ten years over $1 trillion in cuts that he agreed to as part of the budget control act, 100% cuts. and at the time, he said we've got to come back and do revenue. he "life & style weeklalso call billion in cuts and laid out exactly what those should be. >> catch "the ed show" here at 8:00 p.m. eastern on msnbc, the place for politics. >>> well, new jersey governor chris christie is making a personal plea for federal disaster aid in the wake of hurricane sandy. the republican governor paid an unannounced visit to the white house to ask the president for $83 billion in aid for new jersey, new york and connecticut. he also met with members of congress. it was th
. >> what the president has said is we need $1.6 trillion as part of an overall deficit reduction plan, because if you don't get those additional revenues, but you also try and reduce the deficit, you end up whacking everybody else much harder. and so, it's really important to have that revenue number as high as possible. >> sure. >> look, the president's already been clear, ed. on cuts, he will continue to implement over the next ten years over $1 trillion in cuts that he...
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Dec 5, 2012
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reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. in the meantime, the united nations is hint thag there wil hinting that there will be no asylum for bashar al-assad as the syrian dictator makes it clear that he will die before leaving th
reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president...
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so, you dropped the social conservatism and now you're at a deficit on the latino and the african-american vote they have which isn't sizable but every vote counts. so, if you then toss out the fiscal conservatives, then you lose a lot of the oriented versions of the republicans. they're going to have to try to work in a coalition and i suspect it's probably going to be the fiscal side that ultimately the republicans waffle on because if you look demgraphically at african-american voters, they are less inclined to believe that absolute limited government works. i think the gop is going to have to go more towards a small government, economic populous message. >> as funny as it sounds, you were very clear about the ambiguity this week on redstate.com. you're not sure what republicans in congress stands for as it relates to fiscal issues. where would you like to see them go? >> i would like to see the gop be a limited government party. it makes the case that spending from washington doesn't actually help people. the younger voters actually think it does. the gop needs to make the case it does
so, you dropped the social conservatism and now you're at a deficit on the latino and the african-american vote they have which isn't sizable but every vote counts. so, if you then toss out the fiscal conservatives, then you lose a lot of the oriented versions of the republicans. they're going to have to try to work in a coalition and i suspect it's probably going to be the fiscal side that ultimately the republicans waffle on because if you look demgraphically at african-american voters, they...
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so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundtable. there was an issue with the poll microphone for the president's address so they've handed him a different microphone, the leaders inside this room can hear exactly what the president is saying but his audio is too low for us to be able to share it with everybody. we're still working on that. when we see and hear about the fact this two-step plan getting something done for the middle class by the end of the year, does this set up the scenario we live in a perpetual state of fiscal cliff loopness, this is the same old dog and pony show every six months to a year fighting over the same things and not big, bold leadership? >> i hope not, certainly if it's not left up to president obama and congressional democrats. president obama proposed $4 trillion in deficit reduction, he has a balanced approach to take care of the middle class and that they have the certainty that they need that we make spending
so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundtable. there was an issue with the poll microphone for the president's address so they've handed him a different microphone, the leaders inside this room can hear exactly what the president is saying but his audio is too low for us to be able to share it with everybody. we're still working on that. when we...
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this isn't about the deficit for them or balance. it's about an ideological campaign that most americans thought would have ended on november 6, and that's also why the president sent secretary geithner up here last week with a proposal so completely ridiculous it wouldn't have passed the house, as i indicated earlier, if nancy pelosi were still speaker. it was more of a provocation than a proposal, to be perfectly frank about it. it was a message that the president doesn't want to deal at all. to date not a single democrat has come forward to support the geithner proposal, and anybody who actually looks at the details would certainly understand why. as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic grow
this isn't about the deficit for them or balance. it's about an ideological campaign that most americans thought would have ended on november 6, and that's also why the president sent secretary geithner up here last week with a proposal so completely ridiculous it wouldn't have passed the house, as i indicated earlier, if nancy pelosi were still speaker. it was more of a provocation than a proposal, to be perfectly frank about it. it was a message that the president doesn't want to deal at all....
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as i've indicated, the only way to get the kind of revenue for a balanced deficit reduction plan is to make sure that we're also modestly increasing rates for people who can afford it. folks like me. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> the concerted effort from the white house is very clear. here's white house press secretary jay carney. >> what will produce a deal is an acknowledgement by republicans, republican leaders, that rates on the top 2%, the wealthiest americans, have to rise. there is no deal without that acknowledgement, and without a concrete, mathematically sound proposal -- >> but speaker boehner still insists he can get the revenue without raising rates? >> now, the revenues we're putting on the table are going to come from guess who? the rich. there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> some conservatives just can't stand hear
as i've indicated, the only way to get the kind of revenue for a balanced deficit reduction plan is to make sure that we're also modestly increasing rates for people who can afford it. folks like me. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> the concerted effort from the white house is very clear. here's white house press secretary jay carney. >> what will produce a deal is an acknowledgement by...
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howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said that, my own view is, that going over the fiscal cliff is only the second worst thing that can happen. the worst thing that can happen would be for congress to simply kick the can down the road on everything. >> that's exactly right. >> extend all the taxes, extend all the spending, let life go merrily on the way it is. we cannot let that happen. it is time to address the deficit. and if going over the
howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where...
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we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put to the test. i got word in the last 30 seconds and a ruling from the supreme court, a decision from the supreme court, actually, on whether it will hear a same-sex marriage case and the constitutionality of that. the answer is "yes" the court has notified us. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and redu
we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that...
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as a result, my pred ases sors built up a deficit that wasn't reported as part of the deficit i dealt with. >> the bus is running over and other and over. >> it was a series, this happened over a 20-year period time. >> right. >> you don't report under gap. you extend the fiscal year for income out but shorten it for payments or income in, payments out. you do all kind of crazy things. enter into a 20-year transaction for state employees that guarantee benefits, tieing the hands of future administrations. lots of crazy things happen when there are no rules. for a long time, there were no rules. >> not to mention, you use a credit discount rate for pension, liabilities. i will say, first states have cut spending but they have to cut way more according to to gao, they have to cut at least 13% every year. their reason is, one of the things we should not forget is one of the things we should do when times are good is actually save money. >> yes. >> it's not what states have done. when time was good, they were spending, spending, spending and spending. in fact, states, when private gdps gr
as a result, my pred ases sors built up a deficit that wasn't reported as part of the deficit i dealt with. >> the bus is running over and other and over. >> it was a series, this happened over a 20-year period time. >> right. >> you don't report under gap. you extend the fiscal year for income out but shorten it for payments or income in, payments out. you do all kind of crazy things. enter into a 20-year transaction for state employees that guarantee benefits, tieing...
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. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600 billion in savings from our entitlement programs. including our healthcare entitlement program. jay carney went so far to compare republican pressure on debt creeling to hostage taking. >> this is a profoundly bad idea that i think could not be more frightening for american businesses. and american workers. >> of course, treasury secretary geithner it go may have also frightened people yesterday. by telling cnbc the white house is prepared to go off the fiscal cliff, unless the republicans bend on taxes. comment by former democratic presidential candidate howard dean frightened republics that
. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600...
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for those of us that realize barack obama owns the economy, the deficit, owns everything, and as things get worse you can blame him for his failed policies. but if they're going to go back, in this case tom hartman is going to blame ronald reagan -- well, there's never any hope of not blaming george bush. listen to this. >> black friday in reality is a symptom of the plight that 30 years of reaganomics brought to america. we've been steadily, the last 30 years, watching the destruction of organized labor, labor unions. we have black friday today because the wealthy elite have strangled their workers for 32 years. ever since ronald reagan's election. >> sean: forget those eight years of clinton and four years of obama, it's reagan's fault. it's reagan's fault that on black friday people are killing themselves at victoria's secret. >> they're going after capitalism. the kids are being taught this stuff in school. it really is incredible. the crisis of capitalism. that's really what they're after. that's a core issue. >> sean: yeah, but there's a common theme, that all the troubles in the
for those of us that realize barack obama owns the economy, the deficit, owns everything, and as things get worse you can blame him for his failed policies. but if they're going to go back, in this case tom hartman is going to blame ronald reagan -- well, there's never any hope of not blaming george bush. listen to this. >> black friday in reality is a symptom of the plight that 30 years of reaganomics brought to america. we've been steadily, the last 30 years, watching the destruction of...
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>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a primary to challenge saxby chambliss. are you any closer to a season? tell me what you're thinking and who is encouraging you to do that. >> well, you know, i said all along, no i'm not going to do this. i've been dismissive. in the past couple days, a number more prominent names have been calling and saying shy do it. i feel i owe them more consideration. i'm not closer to thinking i will do it, but i'm thinking about it more. my wife is adamant if i do it, i will be buried in the backyard before i announce. i think saxby chambliss, it's time for him to be primaried. >> your wife will bury you
>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a...
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mystery when 60% at least of the american people think that's an appropriate way to help balance the deficit. >> now, speaker boehner keeps telling us that he's put revenues on the table in form of closing loopholes, but democrats have not offered anything in terms of those earned entitlements. now, i know you said earlier that these are not connected issues, but are you and your colleagues willing to give any ground in terms of cuts, say, to medicare, medicaid, or social security or something? >> you know, this is somewhat laughable because, again, the republicans spent the entire campaign talking about how democrats slashed $716 billion from medicare and governor romney said i'm not going to take that money out of medicare. now they're demanding we take money out of the medicare. this is another example where their message keeps changing. it's not consistent and they're just relying on the same amnesia of the american people to let them get away with it. >> very briefly, sir. do we think there will be a deal or will we hit the cliff and go over it 1234. >> i'm getting more and more pessimi
mystery when 60% at least of the american people think that's an appropriate way to help balance the deficit. >> now, speaker boehner keeps telling us that he's put revenues on the table in form of closing loopholes, but democrats have not offered anything in terms of those earned entitlements. now, i know you said earlier that these are not connected issues, but are you and your colleagues willing to give any ground in terms of cuts, say, to medicare, medicaid, or social security or...
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a lot and create the ability to deal with our deficit more reasonably and still provide for people in a more reasonable way. >> so, jared, another area of concern is republicans are now threatening to use the debt ceiling again to basically take the country hostage again. yesterday i compared the debt ceiling -- >> when you talk about the debt ceiling you get very loud. >> i get very emotional. i don't know about that. i do get very emotional. i compared it it to physicianle c fiscal syphilis yesterday. >> i heard your rant. i linked to it on my blog. >> thank you. last time they took the country hostage, it was very damaging, i think, for confidence in our political system, the u.s. credit rating was actually downgraded. it didn't seem to have that much of an impact on the economy. what can we expect if republicans do decide to use that same tactic again? >> oh, i think we can expect a real economic chaos. the reason why things worked out okay last night was because we actually increased the debt ceiling at the end of the day. the president has been very clear that he's not going to
a lot and create the ability to deal with our deficit more reasonably and still provide for people in a more reasonable way. >> so, jared, another area of concern is republicans are now threatening to use the debt ceiling again to basically take the country hostage again. yesterday i compared the debt ceiling -- >> when you talk about the debt ceiling you get very loud. >> i get very emotional. i don't know about that. i do get very emotional. i compared it it to physicianle c...
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i mean, we have a -- we have a big problem in terms of the deficits we're running. but let me just ask you this crucial question about where we're going to go from here, grover. because i know you have this kind of soul-searching moment in front of you. where you can keep going ahead and saying no revenue, right? has to be revenue-neutral. and you might lose. or you can start to bend a little bit. are you going to have to start to bend? >> well, i'm in favor of more revenue. if you talk about the tax reform that speaker boehner has talked about in the letter that he and all the republican leadership sent to obama asking him to get serious about spending restraint, which he hasn't done yet -- >> but can i just clarify -- >> reduce rates and broaden the base. >> it didn't say for sure let's reduce rates. >> yes, it did. >> it opened the door to reducing rates -- john boehner has put on the table before he would be willing to raise revenue without cutting rates. >> no, in the context of tax reform, i think the letter is very clear. in the context of tax reform, which r
i mean, we have a -- we have a big problem in terms of the deficits we're running. but let me just ask you this crucial question about where we're going to go from here, grover. because i know you have this kind of soul-searching moment in front of you. where you can keep going ahead and saying no revenue, right? has to be revenue-neutral. and you might lose. or you can start to bend a little bit. are you going to have to start to bend? >> well, i'm in favor of more revenue. if you talk...
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there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last year when they raised the debt ceiling would be better than doing nothing. it's separate from the ougautomc tax increase that happens on january 1. our preferred strategy here would be to accept the sequester now knowing that congress is not going to do something more rational. they're not going to take on more fundamental spending reforms and push off increasing taxes. and let's have a ration conversation about fundamental tax reform in the first six months of next year. nothing congress does in this panic is going to be rational public policy regardless of ideology. >> isn't it fair to say no matter what,
there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last...
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it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question being which taxes, how much revenue, then obama wins. now if obama succeeds in making the argument not about his spending, but about grover norquist, he wins there, too. for republicans, on the other hand, if they can figure out a way to refocus the debate on spending, they win and the country wins. we can't kid ourselves that's correct is not easy to do. obama has the biggest microphone in the land and he also has
it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement,...
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we want to raise -- deficit. we want to raise taxes, cut defense -- we're willing to do all four of those things. megyn: marc, how does taking money out of medicare and giving it to obamacare cut spending? [laughter] >> it doesn't. >> that's not what i said, megyn. that's not what i said. >> it doesn't cut spending. they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no plan on social security, medicare or medicaid, which he himself admits is what is driving the debt and driving the real fiscal crisis. so they have put forward no plans whatsoever, and when paul ryan and others have put forward our plans, they've pilied them for it. i'm glad president obama's meeting with simon. i'd love for him to meet with john john boehner. [laughter] megyn: simon's got a lot of good ideas. were you in that meeting with the unions and the progressive groups that the president had -- >> no. i was in a different meeting. th
we want to raise -- deficit. we want to raise taxes, cut defense -- we're willing to do all four of those things. megyn: marc, how does taking money out of medicare and giving it to obamacare cut spending? [laughter] >> it doesn't. >> that's not what i said, megyn. that's not what i said. >> it doesn't cut spending. they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no...
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here's the level of deficit reduction i can reach. if you think you can reach the same or more with more spending cuts, you go first and name them. >> yeah. >> so richard, we have everybody playing chicken for the most part. it's kabuki. you show your spending cuts and then i'll show mine. >> right. it failed before when the president was negotiating against himself. look, i'm going to come back. $400 billion of medicare cuts is exactly what you would want democrats to do if you want them to start dealing with entitlements. what are we talking about when we say democrats need to deal with entitlements? principally, it's medicare. so that's a huge down payment right there. you can say, well, i don't really believe they're possible, but that's a real proposal. what you're asking for in terms of the politics is that the president somehow solves john boehner's problems with his own caucus. and gives him the strength to go back and be the leader of that rowdy bunch of house republicans. that is not -- that is a hard ask for a president. >>
here's the level of deficit reduction i can reach. if you think you can reach the same or more with more spending cuts, you go first and name them. >> yeah. >> so richard, we have everybody playing chicken for the most part. it's kabuki. you show your spending cuts and then i'll show mine. >> right. it failed before when the president was negotiating against himself. look, i'm going to come back. $400 billion of medicare cuts is exactly what you would want democrats to do if...
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tim giter in and rob neighbors bring the deficit cutting plan to capitol hill today. >> reporter: negotiators are meeting with boehner and top democrats. they heard the plan wednesday at the white house. at least one thinks there could be a deal here. >> if i were involved in the negotiations like this and everybody was purporting to be where they are, i would say that an agreement is reachable. >> i'm hopeful. it wouldn't put me anywhere near optimistic. >> reporter: one conservative is suggesting that while negotiations continue, congress should stop tax rates going up on the middle class now. >> we're not going to raise taxes on those people. i think we should make that clear to everybody. >> reporter: bottom line, no deal yet. both sides are still talking. and both sides signalling that they're willing to give some ground to get this done and get it done on time. lynn. >> thanks so much. >>> it's not how he wanted to get there but former governor mitt romney heads to the white house. president obama is hosting his campaign rival at a private lunch. no reporters will be allowed in. it is t
tim giter in and rob neighbors bring the deficit cutting plan to capitol hill today. >> reporter: negotiators are meeting with boehner and top democrats. they heard the plan wednesday at the white house. at least one thinks there could be a deal here. >> if i were involved in the negotiations like this and everybody was purporting to be where they are, i would say that an agreement is reachable. >> i'm hopeful. it wouldn't put me anywhere near optimistic. >> reporter:...
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trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is preeminently where a president has to lead and be specific. you can't expect the republicans to lead on an area that he's dominated in politically. >> here's an entitlement idea, a way to help support medicare, let them dictate price -- drug prices. >> steve, this, to me, is a much more interesting debate than tom and dan. because i think the president has done exactly what he's done in the past in this negotiating. he's not grinding it out with speaker boehner. he's out giving speeches, rallying his base. meeting with groups like moveon.org.
trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is...